Topic: Why things are so complicated (Read 912 times)

agree big time - there is a ton of scam coins. I know a few people that lost half their bitcoin trying to be fancy and get rich
from these random scam coins that pop up all the time.

So online wallet is for very small amount of coins. If I have large amount of bitcoin, I will use the core client. Is that right?

Online wallet are already out there to make crypto uses simpler and also coinbase like site make it more easy to own some coins with fiat with in build trading feature. You are quite right as it is complicated to understand how bitcoin works but to use it as payment gateway online wallet will be enough.

A simple what is bitcoin video will be enough for the interested one to own and use bitcoin. I don't find it complicated more than any other processor like paypal,skrill etc.

I did not see any things with crypto complicated, if you have medium level computer knowledge. From start, yes, can be hard to understand, but with time you can know everything - it takes a time 

Watch Bitcoin: The end of money as we know it documentary. They explain it as simple as you can get. I mean about how they just borrow from one bank to another and not really have any physical money (fiat) at all when you do transactions through them.

Very well said! Understanding how fiat works beyond the simple transactions performed everyday (the internal mechanics and even worse the policies applied by central banks) is something that is not remotely understood by the large majority of people using fiat. Me included 

if you think about it's the same for fiat, why many different fiat currency, why many different wallet, see them as why many different payment processor, skrill, paypal etc...

the benefit of bitcoin is the security and the low cost, the transaction don't take longer than with fiat, fiat actually take much longer to confirm, but since everyone use it, they basically agree to accept it without confirmation

ponzi and theft are present in fiat world too, so no difference...

that is the beauty of bitcoin, the limited amount. inflation can be a serious issue for many ppl. and overprinting of money has often cause worldwide panic or economy depression. however with bitcoin, you can be certain that the value of bitcoin will increase as the supply is limited.

If you have to ask these questions, I d say u re definitely in the wrong industry. Most of real crypto supports enjoy being in that kind of "complicated" environment you mention. Also, stuff is not complicated or hard to understand, you re just too impatient to read it and want us to spoon feed u. FFS, if 2 million crypto users do not think it s complicated, how come you do?

What is the benefit?
The FED cannot create another 21,000,000 BTC to finance the bombing of Aladdin and Jasmine in Agrabah.
Also, the limited supply will eventually make Bitcoin very attractive to millions of people wanting to own "at least one entire BTC", and many others will be protected from inflation when they get paid in crypto currency.

Bitcoin crypto currency is mixed so many mathematical  formulated digital money. Why Its complicated for that my answer is to make wallet and every transaction from bitcoin need to be safe. To overcome the bitcoin so many digital currencies came in market but nothing got success like bitcoin.

Yes, I think pretty much the same. It is very complicated. You have to do many things (buying, downloading the wallet, encrypting, fees etc) to use crypto and you do not get an inmediate benefit over fiat.

But also, this complication, as I see it, is what makes profitting from crypto possible. If it were easier to use, trade, and all, everybody would do it and there will be no potential margins of benefits (arbitrage, sites with discounts for buying btc, giveaways, paid signature campaigns etc).

Easy of use is at little at odds with earning potential: At least as I see it.

Its good information, help full

it is ok. i also too have a lot of trouble trying to understand everything. just start from the basic first, how to secure ur wallet. den learn how to sign ur address. the rest is not that important unless u wan to shift ur btc to diff places.

So no newbie finally huh?

Anyway,

The things are complicated because there are many scam coins  on crypto, Almost coins are not neccesary but only time will say wich ones will survive.

Buying; I can understand that newbies may have a hard time when it comes to buying Bitcoin, especially when the exchanges in some countries require you to go through a very annoying verification process, which might delay your purchase of Bitcoins significantly. After that it's much easier since you have verified yourself. You just deposit money in your exchange account, and then buy the amount you want.

Spending; I personally can't think of something that is difficult about spending your Bitcoins. You have either a wallet installed on your PC or you have an online wallet at for example, blockchain.info. The steps to send Bitcoins to spend them are self explanatory once you have your wallet open. Very easy.

Trading; Best method for people that don't know much about trading, buy low, sell high. Every one can do this. You can also download an app via your appstore that allows you to trade Bitcoin with in-app (fake) money. That allows you to trade without losing a single penny.

Why so many coins; It's quite simple. Money. The majority of the coins are bought by people that are now calling themself a developer, while they can't code even the most simple thing. They are out to sell their pre/insta-mine and then abandon the coin to start a new "project" to repeat everything. I simply don't look at altcoins anymore. It's not worth it. I only focus on Bitcoin.

Why not fiat currency?; The reason we use Bitcoin as currency is that we now finally OWN our money. No one can tell us what to do or how to spend our Bitcoins. We don't have to deal with a third party anymore. It's pure freedom.

Different wallets; Different people, different wallets. The Bitcoin core wallet requires you to download the full blockchain before you can start to get it working. Some people don't want a wallet that downloads the full blockchain since it is around 55-60GB in size. That's why they choose to go with a so called 'light weight' wallet. This wallet is much faster to use it as newbie since it doesn't require you to download the full blockchain. Some people even choose to use an online wallet such as blockchain.info, but I personally don't like it that much since it stores your coins online.

Why transactions take so long?; They don't. Transactions made via Bitcoin are instantly. The only thing that isn't instantly are the confirmations. Some times it takes 5 minutes to get 1 confirmation, and some times longer than 30 minutes. We can't do anything about this.

Security, ponzi, theft; Your coins are as secure as you are. If you secure your wallet files with a long and strong password, then your coins are more than safe. Just make sure you don't click on links, and you don't download stuff without knowing what it is. If your PC stays safe from virusses, then no hacker can harm/steal your coins. Ponzi's aren't something really Bitcoin related. They also happen in the fiat world. Just don't fall for it. Even not if they promise you crazy high resturns.

Ive been reading a lot over the past year about the different coins and their uses. From a person who has no IT background I find the process of using, buying, spending, trading, and just understanding the entire crypto world complicated. Why so many different coins? Why not just use fiat currency? What is the benefit? Why 100 different wallets? Why a transaction takes so long? What about security, ponzi, and theft?  I just read about Decred. Too complicated for me to fully understand.

In my opinion before the average person decides to entire the crypto coin world things must be made simpler.

Just my opinion and I hope that its not just me. Does anyone have any Idea when things might change?